Small businesses in Moldova will soon be able to improve products and services to European Union (EU) standards, as the EBRD and EU are opening new funding opportunities to upgrade firms’ operations. »

Under the conditions of a limited domestic market, the growth and diversification of exports are the actions the Republic of Moldova should undertake to significantly improve living standards for current and future generations. And the exports, in turn, are directly influenced by the volume of investments.
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The EBRD and the private equity firms AB Invalda INVL and Horizon Capital have today acquired a 41.09 per cent stake in B.C. Moldova Agroindbank S.A. (MAIB) in an auction held by Moldova’s Public Property Agency. The partners paid 451.533 million Moldovan lei (equivalent to €23.031 million). »

On June 29, 2018, the Executive Board of the International Monetary Fund (IMF) completed the Third Reviews under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) Arrangements for the Republic of Moldova and approved the request for modification of performance criteria. Completion of the review makes available SDR 24 million (about US$33.8 million). »

Led by private consumption, Moldova’s economy grew by 4.5 percent in 2017. Fueled by remittances, strong growth in wages and the indexation of public transfers in 2016, consumption increased by 4.9 percent in 2017. Improved financial conditions and the recovery from the 2015 decline in public investments led to a recovery in gross fixed investments (+5.3 percent).
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The EBRD and the EU are extending their support to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine to a total of almost €1.1 billion in credit lines and trade finance and €58.3 million in EU grants. »

The EBRD has welcomed the acquisition by Romania’s Banca Transilvania of a 39.2 per cent stake in Victoriabank, a key Moldovan bank. It is the first time since 2007 that a foreign bank investor has entered the Moldovan market. »

Banca Transilvania has become a shareholder of Victoriabank, the third largest bank in the Republic of Moldova, with a total participation of over 66% alongside the European Bank for Reconstruction and Development. BT and EBRD are majority shareholders and strategic partners of Victoriabank, who wish to support the entrepreneurs and the economy of the Republic of Moldova. »

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Moldova which will guide the Bank’s investments and policy work in the country for the next five years. »